Insight on Business News Hour with Michael Libbie is you connection to advertising, marketing and consumer trends meant to help your business navigate the, often confusing, world of marketing your products/services. We're here Monday - Friday...thanks for coming by. Today:
What Were They Thinking
I missed this...totally. The YMCA, after 40 years, changed their logo and their name. The Young Men's Christian Association, which then became The YMCA is now "The Y". Y? We don't know. In a press statement officials say "The Y" name and logo is designed to, "Revitalize the brand and the mission of the Y, which is to offer youth development programs, promote healthy living and to be socially responsible." Uh huh... I sort of thought that's what they've been doing forever. While it's not that much of a departure from the old logo...it is...colorful. Y do you think they did it? And does this mean that "Christianity is under attack in America?" (Sorry, I had to throw that in...seems like good timing.)
This is another one of those amazing realities. People will drive ten miles to a gas station that has fuel priced at two cents a gallon less than one in their neighborhood. Why? Because they don't know the math. Grocery stores do this all the time. They will price something at 3 for $11 and YOU think you're getting a deal. But, in reality the prior price was $3.33 each. IF you buy their "deal" your actually spending more. Next time you're at the store check the "3 For" signs. They will always have an odd number making it harder for folks to calculate the "real price". I know...I do odd things.
Full Service Gas Stations
It's been a very long time since any of us have heard that "ding-ding" when rolling into a gas station. That sound would usher out a person who would pump your gas, wash the windows, check the oil and tire pressure. Gone. But might there be a reason to bring in back...in selected areas? Let's say you own a gas station that's within a mile of three or four large retirement communities. Might you open one lane for "Full Service" and market into the community? How about "up-selling" and not just washing windows? Would people pay an extra $.20 a gallon for the service?
"Imported from Detroit"is exporting $843 million into its Kokomo, IN plant to make nine-speed transmissions. That brings the total investment, into that plant alone, to $1.1 billion. I'd say Chrysler is doing their part to bring back jobs to the US. Here is the story from our friends at Left Lane News. The Buzz? First Quarter Profit, Killer Marketing Plan, Investing in US Manufacturing...win, win, win. Nice.
Trending Topic - #140ConfDM Was #3
For those of you who keep up with this sort of thing the 140 Character Conference held here in Des Moines this past Monday hit #3 on Twitter Trending Topics. What that means is enough people out there were Tweeting, "#140ConfDM" that our little conference in the Middle of the Midwest trended higher than some national news stories. Impressive...
Is Foursquare Old Technology?
It might have been the audience but one of my observations at the 140 Character Conference - Des Moines was that it took over six hours for anybody in the room to bring up Foursquare. And then only in passing. In a room full of "social media types" there was more said about "Business Blogging" than what had been the "darling of marketers" just six months ago. This stuff moves...fast.
CEO Compensation Up 11% - 2011
So, how are things out there? If you happen to be a Chief Executive Officer things are....fantastic! Compensation received by CEOs of the biggest U.S. companies surged 11% over the past 12 months — to $9.3 million on average, The Wall Street Journal reported on May 8. Citing a study conducted for the newspaper by management consultancy Hay Group,WSJ said the increase was largely due to decisions by company boards to reward CEOs for strong profit and share-price growth with bigger bonuses and stock grants.The survey covered the 350 biggest companies that filed their statement between May 1, 2010, and April 30, 2011. Viacom CEO Philippe Dauman topped the list after receiving compensation valued at $84.3 million, more than double his 2009 pay, the report said. We're thinking we'll see more high end car sales? I've got this car thing on the brain this morning.
So, How Are Things On The Farm?
If you're selling products and services into the farm sector...great! With an exception - small tractor sales. The folks at the Association of Equipment Manufacturers just released their Flash Report from April- 2011 tractor and combine sales. Total farm tractors sold for the First Quarter are up 1.5% over last year. What is really interesting is that combine sales are up a whopping 33.9% over last year. High prices for corn and soybeans....
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